On NOT using Hive as an income source....
I don't receive too many rewards on Hive, and I certainly don't regard it as an income source.
For a start Hive isn't fiat money, it's just virtual reward tokens, which can be converted to fiat via various faffy mechanisms, but until one does that it simply isn't 'real' fiat money, it's all entirely hypothetical...
Much like my income scenario below...
Now one could make up one's outgoings using this combination of income sources...
Assuming one has 2000 Units of outgoings and the corresponding other income sources, Hive income could make up 500 units a month of one's outgoings.
However I MUCH prefer the following distribution... Which involves cashing out MUCH LESS HIVE every month, really just a token amount, 100 UNITS a month, and making up the rest in savings draw down, and taking a slight hit on income......
OVER FIVE YEARS...
NB that 300 units of savings draw down over 5 years would only be 18K units.
The thing is by leaving that 18K Units worth of Hive in the Hive ecosystem means more yield AND more potential for the price of Hive to raise relative to those 18 hypothetical income units.
The theory is that if Hive goes up in price then one can replenish one's savings draw down at expedient moments.
Conclusion...
Only cash out Hive on a regular basis if you REALLY need to, otherwise keep on stacking folks!
NB this is also why I'm so keen to find another regular job, I'm hedging against falling into the position of NEEDING to cash out Hive, that'd be awful.
Thankfully I have enough savings to last me several years ATM, and actually I am earning enough to NOT have to draw down, so I'm good.
All of this is entirely hypothetical, and most certainly NOT financial advice!!!
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I don't need to take any $HIVE out and am happy to stack it. I make about as much from curation as I do from posting, so I can have some income from it. I know a lot of people have far more to gain from it doing well when their income otherwise is low. I want to see them benefit from it.
!WEED
It's a nice place to be in not having to cash out. I'm still always surprised how few people have discovered this place as an income source!
It is amazing we don't get far more people from poorer places trying to earn here. That could create some issues, but we have to find ways to deal with it.
It could lead to massive growth, probably the greatest prospect for it!
There is a long way to live off HIVE ;)
For me the question is: To get there, to all these hives😅😅😅
!COFFEE
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!PIZZA
!PGM
You just have to be consistent and keep on stacking!
Yes, of course, in Latin it's "gutta cavat lapidem."
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I have never really considered Hive to be an "income source."
I see it more as an opportunity to occasionally do something I enjoy — writing, and exploring ideas — with the small fringe benefit of getting to potentially build a small "savings account" of sorts. By not considering it income, I also end up without expectations, and hence also without any sense of disappointment, if nothing ends up happening.
It's a nice position to be in - that's pretty much how I see It - savings - in the grand scheme of all things crypto - HBDS are relatively stable!
!WEED
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Maybe in 5 years time, but then again I do ot want to be in that type of a position either. Hive takes time to build any value and we have a great chance of really setting down a marker for growth having come this far.
I know what you mean, if I do ever cash anything out I can't ever see myself going below 80K, as a bare minimum, I want to see that tasty 100K in sight!
I am really working towards trying to invest a larger and larger portion of my income into passive ventures to get more income for less time.
It's the early retirement dream, Vest as much as you can as early as you can!
I am too late for "early" retirement at this stage I think, but I really want to become financially free ASAP.
I hope you achieve it.... very asap!
Me too! :-0
I'd add that if you do cash out your HIVE, cash it out into HBD. And then cash out the HBD interest.
HBDs are pretty appealing to me!
In 5 years time i am sure several communities irl around the world will be accepting hive. fingers crossed!
Although we were saying that 5 years ago!
yes, i imagine so, but has to be done, we as a group should actually sponsor a acquisition of a "safe haven" put some yurts and solar power and lead by example, easier said than done, but that is my idea for all this, we must transfer this wealth into the real world with solid initiatives, projects that do this first will surely get a following, i mean, who among us would not travel to a spot where they knew for a fact they could pay a vacations with their blogging efforts?
Funnily enough I've had the same thought myself, a Hive-Funded eco-project in the real world would be just great!
it is never late for use to talk in more detail and make it happen. When this is on, all this is "real" at least in one way.
I'm of the opinion that you should spend the LEAST amount of $HIVE possible. If that number is 0, more power to you.
Even though there is tremendous development right now with Keychain, LEODEX, VSC, V4Vapp, signup is being improved, adoption is being improved...so many things are going on! yet we are still early.
There are lots of activities you could trade your time to mine fiat for expenditures, but 100,000 $HIVE at $5 is going to be worth WAY more.
NFA and other disclaimers.
Oh yes one always has to consider the massive upside potential, it's just about being perpetually patient!
I agree with cashing out as little as possible. I actually cahed in my HBD to buy more hive in anticipation of the bull market. So far Hive hasn't exploded, but I hope that means I have more time to accumulate.
It does lag!
On the other hand, being in the hive can also show the works and ideas that exist in our daily environment, I hope to stay here for a long time and I am also happy to be here to meet good people who I always see amazing ideas from friends here 😊
Good plan, just keep on grinding and stacking!
Yep, stacking and maybe some hive-hbd trading in a full bloom bull market seems a much more valid approach; that's what I'm aiming for.
It's a nice little earner playing the two off against each other!
Staking Is great even though it is not always the best option because some people really look at Hive as their main or auxillary source of income.
Nice article though.